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Should You Invest in Probate Properties?

One of the most lucrative ways by which one can make money in real estate is by buying properties in probate.

It’s here that you have a clear opportunity to invest and make a considerable profit for a number of reasons.

 southernrealityincBy definition, the term ‘probate’ is actually the court-supervised process by which a deceased person’s property is sold so as to clear his debts while distributing the rest to his or her rightful heirs. This involves not only his or her home but all his possessions be it vehicles, land, farms and their businesses. This process gets even more complex especially if there is no will present.

Yet this can be advantageous to the real estate investor for a number of reasons. The first of them being easily finding sellers who are motivated to dispose of the property given how lengthy the process can be. A number of these properties have high equity values. Also, a number of them do not have liens or titles without liens. This increases the value of the property. Finally, most if not all investors will not have to put down their own capital for this.

Now, if you are interested in buying property that is in probate status, you will need to deal with the administrator, executor or executrix of the property itself. The latter’s responsibility is to take care of all aspects of the deceased person’s property be it paying off tax, ensuring insurance is up to date as well as physical tasks such as cutting grass and so on and so forth.